Nevakar Injectables Inc. has entered into an asset sale agreement with Endo Ventures Limited, a subsidiary of Endo International plc for the sale of six of its differentiated, sterile injectable product candidates, which are currently in various stages of early development. Under the terms of the agreement, Nevakar transferred all rights and responsibilities for these product candidates to Endo in exchange for an upfront payment of $35 million.
“We are pleased to continue our longstanding relationship with Endo, a respected pharmaceutical company with a significant and growing presence in sterile and critical care products. This agreement further validates the value proposition of our strong pipeline and business model and provides additional resources for us to continue to grow and expand our product pipeline in a focused and selective manner,” stated Navneet Puri, Ph.D., Founder and Chairman of Nevakar.
In 2018, under an exclusive licensing agreement, Nevakar licensed five sterile injectable products to Endo that are in various stages of development and commercialization.
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